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PR Newswire
24-12-2014, 11:17 AM
It seems fair and rational to demerge...
Best of both worlds as Boustead plans to keep real-estate division a subsidiary
SINGAPORE (Dec 24): The spin-off plans for Boustead Singapore ( Financial Dashboard)’s real-estate division are out and it seems the conglomerate wants to keep Boustead Projects as a subsidiary while enabling it to build an investor following of its own.
Last night, Boustead announced more details of the demerger. Boustead will spin off its real-estate solutions business via a distribution in specie to the shareholders of the company of up to 49% of the issued share capital of Boustead Projects. The shares of Boustead Projects will then be listed on the Mainboard of the Singapore Exchange by way of an introduction.
Following the completion of the proposed distribution in specie, Boustead will have a direct interest of at least 51% of the total issued share capital of Boustead Projects.
As Boustead Projects will be a subsidiary and its financials will be consolidated with that of Boustead, this will help shield the parent company from the cycles of individual industries such as energy while enabling the real-estate division to raise capital and expand on its own.
...
http://www.theedgemarkets.com/sg/article...subsidiary
Best of both worlds as Boustead plans to keep real-estate division a subsidiary
SINGAPORE (Dec 24): The spin-off plans for Boustead Singapore ( Financial Dashboard)’s real-estate division are out and it seems the conglomerate wants to keep Boustead Projects as a subsidiary while enabling it to build an investor following of its own.
Last night, Boustead announced more details of the demerger. Boustead will spin off its real-estate solutions business via a distribution in specie to the shareholders of the company of up to 49% of the issued share capital of Boustead Projects. The shares of Boustead Projects will then be listed on the Mainboard of the Singapore Exchange by way of an introduction.
Following the completion of the proposed distribution in specie, Boustead will have a direct interest of at least 51% of the total issued share capital of Boustead Projects.
As Boustead Projects will be a subsidiary and its financials will be consolidated with that of Boustead, this will help shield the parent company from the cycles of individual industries such as energy while enabling the real-estate division to raise capital and expand on its own.
...
http://www.theedgemarkets.com/sg/article...subsidiary
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